Egypt Keeps Pound Steady On Official Market

This is the third time in a row that the central bank is keeping the pound unchanged, after recently allowing it to depreciate twice in less than a week.

The central bank sold $40 million in Sunday's auction.

On July 2 and July 5, the central bank allowed the pound to depreciate by 10 piasters each time, dropping from 7.53 to 7.73, its lowest since the introduction of currency auctions in 2012.

The pound's depreciation is not "concerning", Central Bank Governor Hisham Ramez said last week.

In money exchange shops, the dollar changed for between 7.88 to 7.93 pounds.

Meanwhile in banks, the pound stayed at 7.83 against the dollar.